Monday, April 28, 2025
72.6 F
Roseville

Outlook for First Time Home Buyers

Local Real Estate Watch: First Time Home Buyers

Roseville, Calif. – The shortage of houses on the market and the increasing prices are not good for first time home buyers.  In January of this year, the share of first time home buyers dropped to less than 30 percent of all existing home sales.  This is down from 33 percent for the same month last year.

First time home buyers typically have a smaller budget and they are looking for homes in the lower price a range which is where the lack of listings is the harshest.  Demand is not the issue, there are plenty of first time buyers, but they can’t find a home on the market which fits their needs and, if they do, the competition from other buyers is high.  This past weekend we wrote an offer for a first time buyer on a cute cottage in Elk Grove.  Our client is financially stronger than many first time buyers and was able to offer the sellers $10,000 more than their asking price.  The sellers had six offers and ours did not even get a counter.  If the shortage continues, this is not going to be a good spring market.

In January, homes selling for $250,000 or less fell 15.5 percent from a year ago while the biggest gain was in homes selling for more than $500,000 which increased by 25 percent.   Existing home prices were up in every major region. The West had the most expensive homes at a median of $362,600 in January, an 8.8 percent increase from over a year ago. The Northeast’s median prices reached $269,100 in January, up 6.8 percent annually. The South’s median home price of $208,200 is up 4.3 percent from a year ago, while the Midwest’s $188,000 median price is up by 8.7 percent.

You don’t have to consult an expert to see it is clear many of our housing markets are becoming less affordable and we need to see supply move closer to demand to reduce the upward pressure on home prices.



Support local sports!

Wine, Food, & Fun!

May 9 & 10 in Rocklin!

Trending

The Untold Story of Antibiotics: What Everyone Should Know

Sacramento, Calif. - Americans fill 300 million antibiotic prescriptions every year—one for every man, woman, and child. Antibiotics have undoubtedly saved countless lives, including that of my son

7 tips to consider for changing your landscaping

Cash incentives are being used in some areas to get homeowners to voluntarily give up their lawns. Before making drastic changes to your lawn and landscape, the National Association of Landscape Professionals offers the following tips

Fall Prevention class May 7th in Roseville

Auburn, Calif. - Placer County is rolling out a new fall prevention campaign aimed at protecting older adults who face the highest risk of deadly falls. With 369 fall-related deaths over the past five years,

Roseville PD: How landscaping can enhance home security

Roseville, Calif. - During summer months many homeowners prepare for yard clean-up and landscaping projects. However, amidst the excitement of transforming outdoor spaces, it's crucial to consider how our landscaping choices can impact the safety of our homes.

Drought survival guide for landscaping recommendations

The California Landscape Contractors Association (CLCA) is pleased to offer some recommendations to help you make smart choices and protect the environment using your area's mandated water reductions.

Topics

The Untold Story of Antibiotics: What Everyone Should Know

Sacramento, Calif. - Americans fill 300 million antibiotic prescriptions every year—one for every man, woman, and child. Antibiotics have undoubtedly saved countless lives, including that of my son

7 tips to consider for changing your landscaping

Cash incentives are being used in some areas to get homeowners to voluntarily give up their lawns. Before making drastic changes to your lawn and landscape, the National Association of Landscape Professionals offers the following tips

Fall Prevention class May 7th in Roseville

Auburn, Calif. - Placer County is rolling out a new fall prevention campaign aimed at protecting older adults who face the highest risk of deadly falls. With 369 fall-related deaths over the past five years,

Roseville PD: How landscaping can enhance home security

Roseville, Calif. - During summer months many homeowners prepare for yard clean-up and landscaping projects. However, amidst the excitement of transforming outdoor spaces, it's crucial to consider how our landscaping choices can impact the safety of our homes.

Drought survival guide for landscaping recommendations

The California Landscape Contractors Association (CLCA) is pleased to offer some recommendations to help you make smart choices and protect the environment using your area's mandated water reductions.

Roseville Cash for Grass rebate June deadline approaches

Roseville, Calif.- For a limited time, the City of Roseville residential Cash for Grass rebate. Roseville water customers may apply for this popular rebate that reimburses $1.50 per square foot for turf grass removed and replaced with

Where does Placer County rank? California Unemployment Rate by County 2025

Roseville, Calif. - Placer County's unemployment has dropped in the latest report from the California Economic Development Dept.

Roseville Golfland SunSplash

Welcome to Northern California’s #1 destination for family fun! We offer tons of adventure, from thrilling waterslides to award-winning mini golf.

Related Articles

Local Spotlight

Mobley Pest Services in Roseville serving the community and region for over 20 years

Roseville, Calif.- Fully licensed and bonded, Mobley Pest Services in Roseville has been providing reliable pest control services for well over 20 years. Serving residents and businesses in the greater Placer and Sacramento region, Mobley Pest Services is locally owned and operated in Roseville.

Stanford Ranch Family Dentistry in Rocklin serving the local community since 2000

Rocklin, Calif.- For nearly 25 years, Jason and Heather have grown their successful Stanford Ranch Family Dentistry practice by faithfully serving patients throughout the Rocklin, Roseville, and greater South Placer County region. Their business has grown to now employ over a dozen employees which helps them meet the growing demands of a successful local business.

Sacramento Naturopathic Medical Center emphasizes the use of prevention and natural therapeutics

Sacramento Naturopathic Medical Center is a professional primary care natural medicine committed to helping all people reach their full potential – mind, body and spirit.